Commercial Investing : 16-Unit Apartment

[Keith Gephart]

Hey guys, I have an opportunity for a 16-unit apartment complex showing a CAP rate of 9.18%. The NOI is $53k for the year. The rents shown from the rent roll are super low and NOI could easily grow by 20k+ based on comps in the area. The units are 8 studios and 8 - 1/1's. I would invest in mini-splits for each unit over time as they are now on boilers and window A/C units. I'm looking for some help in getting funding for this deal. All of the BP referrals I spoke to can only go up to 10 doors. Anyone having helpful feedback would be greatly appreciated!

Thanks!